Monday, September 25, 2006

Update on 2500 Nosnibor

Long time blog readers know that I first noticed this new luxury Craftsman home listed late October 2005, with the asking price at the time $1,290,000. (I am not aware of any earlier listing or higher asking price prior to this.) It went through many relistings. In June it was relisted at $1,149,000, a reduction of over 10%. The home has finally sold in September 2006 at a price of $1,015,000. That's a sale price 21% below the October 2005 asking price. And I wonder if the seller had to make additional concessions.

Let's remember that. 11 months to sell, 21% haircut off of original asking price, in zip code 90278.

4 Comments:

Blogger mike said...

I can't believe there weren't more offers, it having such a nice view of the massive power lines and all.

11:43 AM, September 25, 2006  
Blogger bearmaster said...

Yeah, the power lines are ugly and they scare people, although the green strip they are on is nice.

11:45 AM, September 25, 2006  
Anonymous Anonymous said...

Bearmaster,

11 months will seem ok in a year. :(

Everything I'm hearing from my banking friends says the end is almost here on some of the exotic loans. The bond buyers... have grown afraid of the risk. Without option ARMs, the upgrade market will stall. If the upgrade market stalls... Inventory will shoot up pretty quickly.

Great information. Me and my fiance' love to track the homes you follow.

Neil

5:16 PM, September 25, 2006  
Blogger banned_on_the_run said...

The company I work for (a wireless telecom) has been having a hard time finding a Redondo Beach location for our antennas. The zoners there are very picky about location and aesthetics regarding monopoles and rooftop antennas. Luckily, Southern Con Ed and DWP don't care that much. Those utility lattice towers would be perfect for us, and I'm sure the neighborhood would welcome the added cellphone coverage (literally) in their backyard.

6:10 PM, September 25, 2006  

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